Go Finance Reporting Tokyo - Japan's trade surplus during 2010 more than doubled, marked the growth of exports to 24.4 percent. It's a signal the rise of Japan after three years stagnated.
"Triggered increased demand for Japanese exports that kept coming from developing countries," said Japan's Ministry of Commerce.
According to ministry data released yesterday, the trade surplus over the past year increased by 153.4 percent, or about 6.77 trillion yen (USD82 billion), or equivalent to Rp738 trillion. While the specific December 2010, Japan's trade surplus grew by 34 percent to 727.7 billion yen, higher than market estimates that only 474.8 billion yen.
"For the first time in three years, exports reached 67.41 trillion yen. Meanwhile, imports also rose 17.7 percent, or about 60.64 trillion yen over the past year, "said Japan's Ministry of Commerce.
The strength of Japan's exports last year one of them driven high demand for other Asian giant that is China. During 2010 exports of State Panda doubled as economic growth leading to higher consumption. China's demand is somewhat large automotive and semiconductor products to increase 28 percent, making exports hit a record 13.09 trillion yuan.
"We can estimate the economic recovery will bring acceleration in the first half of this year," said NLI Research Institute senior economist Taro Saito.
He added, with export growth last year's model, the Japanese economy will start working again. He also highlighted the high demand from Asia contributed significantly to the growth of his country.
Tuesday (01/25/2011) and the Japanese central bank forecasts economic growth in fiscal 2010 ending next April will grow 3.3 percent, better than the 2.1 percent forecast earlier. Nevertheless, Sato warned that the yen is still a constraint to economic growth. Although the exchange rate appreciation would occur, he said, will only run at a moderate level. The high exchange rate of the yen against the dollar makes a lot of companies consider moving production abroad for foreign exchange earnings are not eroded. Yesterday the greenback dollar was at 82.17 yen level, or only 2 yen above a record high 80.21 yen per dollar in November last year.
In Seoul, South Korea Government (ROK) yesterday said the current account State Ginseng increases in December last year triggered by soaring exports. In fact, South Korean Central Bank noted, the trade surplus the fourth quarter of 2010 was the fourth largest in history. According to Central Bank of the South, current account surplus rose to $ 2 last month, 11 billion (Rp19 trillion) from the previous $ 1, 93 billion in November 2010.
For comparison, the trade surplus in the same month in 2009 only USD708, 7 million. -Although supported by strong exports, current account surpluses throughout the 2010 to drop to USD28, 21 billion, from $ 32 the previous year, 79 billion.
Economists said the increase in surplus last year will be the basic trend of the strengthening in the next year. In addition, the positive performance in 2010 will support the won currency even though the size of the surplus expected to shrink due to increased imports. Improved performance of South Korean exports last year supported the rapid growth of the automotive sector, shipbuilding, and electronics. (GoFinance)
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